https://www.taxtmi.com/caselaws?id=174718 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the disallowance of depreciation on the building and interest paid to the bank. The ITAT found that the CIT(A) had thoroughly examined the evidence and concluded that the Assessing Officer's disallowances were based on assumptions and procedural lapses rather than concrete evidence. As a result, the appeal by the department and the cross-objection by the assessee were both dismissed. en-us Fri, 16 Dec 2011 00:00:00 +0530 Fri, 16 Oct 2015 14:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174718 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals) [CIT(A)]'s decision to delete the disallowance of depreciation on the building and interest paid to the bank. The ITAT found that the CIT(A) had thoroughly examined the evidence and concluded that the Assessing Officer's disallowances were based on assumptions and procedural lapses rather than concrete evidence. As a result, the appeal by the department and the cross-objection by the assessee were both dismissed. Case-Laws Income Tax Fri, 16 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174718